The company said this was achieved on consolidated revenues of P32.3 billion, around 5 percent higher year-on-year.
“Our consumer-centric businesses – real estate development, food and beverage manufacturing and distribution, integrated tourism development, and quick-service restaurants – all showed profitability in the first three months of this year. They all maintained their strong positions in their respective industries,” said Kingson Sian, AGI’s president and chief operating officer.
Megaworld Corporation reported a net income of P2.3 billion in the first quarter of the year, down from last year’s P2.7 billion. AGI said Megaworld is building more townships this year, and is targeting to have 20 township developments by the end of 2015.
Emperador Inc., meanwhile, posted a net income of P1.4 billion during the first quarter of this year, down from P1.72 billion in the same period last year.
Emperador recorded about P8.9 billion in revenues in the first quarter, a 16 percent increase from P7.7 billion in the same period of last year.
“The increase in liquor tax at the beginning of 2015 put some pressure on our margin,” Emperador president Winston Co said.
Emperador earlier said it will be launching 8 major liquor products in the Philippines to cover all segments and categories in the market and that 2015 would be its busiest and most exciting year.
Sian said Travellers, which made a net income of P1.7 billion, will have more hotels, additional gaming area and retail space by the end of 2017.
Golden Arches Development Corporation (GADC) posted a net income of almost P160 million.
GADC, which holds the exclusive right to operate restaurants in the Philippines under the “McDonald’s” brand, is targeting to have 500 branches nationwide by the end of 2015.
source: www.abs-cbnnews.com
